Methods of Compressing 1 CRASHING Look at ALTERNATIVES

Methods of Compressing 1. CRASHING ◦ Look at ALTERNATIVES that provide the maximum compression for the least cost 2. FAST TRACKING ◦ Compressing the project schedule by OVERLAPPING activities that would normally be done in sequence INCREASES RISK

COMPRESSING 1)CRASHING: �INCREASING RESOURCES �Decreasing the time it takes to perform individual activities by increasing the number of people working on the activity ◦ Example: �If it takes Joe 4 hours to complete �Logically it would take Joe & Mary 2 hours to complete

COMPRESSING 1)CRASHING: cont. Increasing Resources - CONS �Consider the following ◦ New sources are not familiar with the tasks. : less productive than current team members ◦ Who will guide the new member along the “learning curve”? ◦ “Being available” is not equal to being qualified ◦ May increase costs

COMPRESSING cont. 2) FAST TRACKING �TASK SPLITTING �Aim to take a large task and split it into 2 or more smaller tasks, ◦ Each of which could start ahead of the completion of the previous one. �Considerations: ◦ Task must be on “CRITICAL PATH” ◦ Can NOT use same resources ◦ May cause NEW “Critical Path” �Because may decrease amt. of days required

Risk Management 1) Identifies threats that can affect the project and 2) The planning to proactively deal with the threats �Risks should be considered for: ◦ ◦ Health & Safety Environmental Legal Financial

Examples of: “Risk Categories” � Health & Safety—some organizations will do planning for pandemics in other words what resources would be available if a pandemic broke out � Environmental-if there is a snowstorm and people can’t come to work �Legal you can’t get certain patents or governmental approval

Risk Identification Techniques �Interview with SME’s (Subject Matter Experts) �Brainstorming �Delphi Technique �Nominal Group Technique �Crawford Slip �Analogy

Interview with SME’s �SME’s (Subject Matter Experts) Technique used to inquire about issues related to doubts and other technical characteristics �Process ◦ Define the SCOPE ◦ Use a facilitator ◦ List of INTERVIEWEES (subject matter experts) ◦ Develop the questions

Delphi Technique �A way to reach a CONSENSUS of EXPERTS �(Interview SME’s (Subject Matter Experts) ◦ A facilitator uses a QUESTIONNAIRE to get ideas about important risks ◦ Responses are summarized, & RECIRCULATED to experts for further comment Helps reduce bias, & having 1 person have undue influence on the outcome

Delphi Technique cont. � Interviews are Anonymous �Used when there may be conflicts or when BRAINSTORMING is NOT recommended �Used to get COMMENTS from COMPETITORS �SLOW PROCESS

Brainstorming �Identification of MANY Risks �Team must be available �Highly CREATIVE �Encourages TEAMWORK �If NOT adequately executed, it can lead to “chaos” ◦ Depends on how good the facilitator is ◦ Sometimes you get “VOLUME” but NOT necessarily depth or quality ◦ Does NOT work for introverts Works better if you go in teams of “ 2”,

Brainstorming PROCESS �Define the scope �Get a facilitator �Get a list of Participants �Conduct brainstorming session �CONSOLIDATE responses �Fill up the list with the identified risks

Nominal Group Technique �Used in problem solving sessions to encourage creative thinking �INDIVIDUAL brainstorming Get the info IN ADVANCE �MIX of individual and group participation �Fast and effective �Lessens the “chaos” of brainstorming �Each member of the group writes down his or her ideas, which are then discussed and prioritized one by the group

Crawford Slip � 1920’s, with Pieces of paper �Used to identify MANY risks in a short period of time �Use it when you do not have TIME or ABILITY to discuss ideas, and just want to collect people's thoughts. �Uses a “slip” or “post-it” �Collate the suggestions �Individual brainstorming �Group consolidation

Crawford Slip cont. �help satisfy the need of anonymity and also equalize participation of ALL team members. �WRITING rather than SPEAKING during the session can have added advantages: ◦ It helps people to think freely without interruption ◦ levels the playing field between quieter people and more outspoken participants.

Analogy �Based on previous history ◦ What risks other similar projects had �Reference is needed �AVAILABLE INFORMATION must be ADJUSTED to the CURRENT SCENARIO

Project Risk Review Type of Review Questions Stakeholders What could upset them? Communication Plan Where could poor communication cause trouble? Schedule What milestones might be troublesome? Resource Demand At what point are people overloaded? Peers Can your peers identify any additional risks? Management Can management identify any additional risks?

Project Vs Operational Work Similarities” • Performed by people • Constrained by limited resources • Planned, executed, and controlled – TRIPLE CONSTRAINT: Scope Quality Cost Time

Plan Risk Management Specific Project Stakeholder Priorities Improve Scope Sacrifice X Quality X Time Cost Keep <= 1 month to save $5, 000 Want to save TRIPLE CONSTRAINTS : balance out 1) performance, 2) cost and 3) time , WHILE MAINTANING QUALITY, QUALITY IS PARAMOUNT, requiring the balancing of Performance, Cost & time Do you want them to improve, keep, or sacrifice?

Risk Identification �Identify the risk event(s) �Keep them realistic �Example: �Resources may be constrained due to team members working on other projects �Significant schedule delays may occur due to team being unfamiliar with the new application or process

“QUALITATIVE RISK ANALYSIS” • Probability * Impact = Severity • NUMERICALLY defines the RISK and their consequences to confirm the RISKS in priority and to define the overall project with risk. • HELPS “DECISION MAKING” • PLAN only for those scenarios which have the HIGHEST SEVERITY rating

“QUALITATIVE RISK ANALYSIS” cont…. Risk Description A B Resources may be constrained due to team members working on other projects Significant schedule delays may occur due to team being unfamiliar with the new application or process Probability (10% - 90%) Impact High “ 3”, Medium “ 2, ” Low “ 1” Severity =P*I 70% 2 1. 4 80% 3 2. 4

Risk Response Planning Risk Response Plan A Schedule bi-weekly meetings with Senior management to provide status updates and resolve any resource conflict Send Senior team member on training (before implementation) B Contract with vendor for consulting services during the 1 st week of planning Schedule Adjustment Cost Adjustment + 20 hrs 0 + 40 hrs $2, 000 + 0 hrs $9, 000

CT EXECUTION

Executing Projects “Time to get to business and ‘just get it done’ “ Initiating Plannin g Executing Controlling Closing

Executing �The process of coordinating the people and other resources to carry out the PLAN. �Project executing efforts are now: ◦ Participating ◦ Observing

Executing Processes �The process includes ◦ TEAM DEVELOPMENT ◦ Establish COMMUNICATION RULES ◦ Ensure your team knows DOCUMENTATION needs and conventions like naming, (MS Sharepoint) �(because everyone is storing everything in same location -make sure that everyone can access it),

Executing Processes cont. �STORAGE, (i. e. “MS Sharepoint”) �Retrieval (read-only, or edited by certain individuals) and control (SECURITY) ◦ PERFORMANCE MONITORING-watching to make sure everyone is doing the job they’re saying they’re doing ◦ STATUS REPORTS �After each milestone, make sure you get “sign offs”

Executing Processes cont. �Procurement (if applicable) ◦ An process used to secure services, goods and work from external sources. 1. 2. 3. RFI: Request for Information, RFQ: Request for Quotes, RFP: Request for Proposal

DELIVERABLES �the “quantifiable” goods or services that will be provided upon the completion of a project �may be an object, used in the greater scheme of the project. ◦ For example, in a project meant to upgrade a firm's technology, a deliverable may be a dozen new computers. �may be a function or aspect of the “overall project”. ◦ For example, a software project may have a deliverable specifying that the computer program must be able to compute a company's accounts receivable.

MILESTONE vs. DELIVERABLES �A deliverable differs from a milestone in that a milestone is a measurement of PROGRESS toward an output � whereas the deliverable is the RESULT of the PROCESS. For a typical project, a milestone might be the: � “completion of a product DESIGN” � While the deliverable might be the: � “technical diagram of the product. ” �

Meetings �Prepare agendas ◦ Send out agendas to allow for preparation time ◦ Be careful with agendas that have GRAPHICS, for people with hand-held devices—can’t read it �Minutes/action items �Establish communication rules (at the beginning of the project)

Emails �Create standardized email distribution lists ◦ Cc’s to team members (especially on client emails) �Use “Out of Office” option ◦ Make sure you let people know you’re out of the office, and not ignoring them (that you will get back to them)!!

Instant Messaging �Good for client calls �Good for “Out of office” team members

WHAT’S INCLUDED IN THE “PM GROUP ASSIGNMENT” SUBMISSION �PM Group Assignment Instructions

QUIZ TIME WORD BANK for “Fill in the Blank” Questions in the: “ 14 Week Schedule”, 2 nd column 36

Hybrid / Homework �Read Chapter 4 �Complete all activities required while reading chapter 4 �Complete the Matching exercise for chapter 4 �Complete the T/F for chapter 4